Rumors affect stock market normalcy
CSE President says at British Bengal branch opening ceremony

Chittagong, February 15, 2009: “Rumors are our enemy for our Stock Market development. Investors should behave rational while investing their heard earned money.’ CSE President Mr. Nasiruddin Ahmed Chowdhury says today as Chief Guest at a branch opening ceremony of British Bengal Securities Ltd. a leading member of Chittagong Stock Exchange Ltd.

He said “Rapid trading volume in the bourses needs door stop service by the Members so that investors at every corner get opportunity to do share trading. He said, “Bangladesh Stock Market eyes a good prospective in the days to come. If investors’ pragmatic skill on investment decision is being utilized, definitely a hefty return must be achieved by the investors. Only investors need to learn the pros and cons of investment tools and techniques.”

He said, “SEC has almost finalized the book building and price fixation mechanisms. With those mechanisms in place more and more big private companies might feel encouraged to go public.” He also said CSE has submitted SEC draft regulation of Derivatives trading which will immensely increase market liquidity in the existing market.

Mr. Nasiruddin Ahmed Chowdhury President CSE is speaking as Chief Guest while from the left Mr. Ifty Islam Managing Partner, Asian Tigar Capital, Mr. AB Siddique CEO, CSE and Dr. Jamshed SA Choudhury, Chairman British Bengal Securities Ltd. were senn in the picture.

Dr. Jamshed S A Choudhury, Chairman of British Bengal Securities Ltd. while saying on current market scenario, said “It is imperative that the inherent structural weakness is needed to be addressed in right earnest. Any reaction or ad-hoc measures may not be sustained in the long run. He further said, “The market regulators are now more efficient than in the past. Investors are now much protected by the Rules and Regulations enacted time to time by the SEC, DSE and CSE. We are much confident that market satiation will never be liked 1996 debacle. Investors should not depend on others suggestion especially at the time of placing order, rather invest on their own decision after analyzing all the factors of the respective company. Sometimes it has been witnessed in the market movement that some scrips behaved irrational due to overheat by the buoyant pressure which proved sometimes illogical. Investors should be cautioned all the time particularly investing in share market.” He said “Investors will get excellent service by his brokerage house in the area of transparency, speedy client service, and report generation from CDBL etc. etc.

Mr. A B Siddique CEO, CSE while addressing as special guest said, “For making the market in perfect shape, the characteristics of the market should essentially be investor driven, not trader dominated.” “A thorough knowledge on the stock market can ensure participation of more and more investors in the securities market and there is no alternative of a vibrant capital market to develop the country’s economy through spontaneous participation of investors.” He said, “It is possible to establish big Industrial units through small capital owned by small investors of the securities market. Besides capital gain is also possible when the stock prices rise.”
Mr. Ifty Islam- Managing Partner, Asian Tiger Capital while speaking on Global Financial Crisis said, “ Bangladesh cannot altogether escape the impact of the global financial tsunami, it is unlikely to experience the worst of it. No doubt, the global recession ahead will negatively impact the export sectors of our economy and with it brings some hardships, but the probability of bank failures and credit market seizure remain very low, while the relative isolation of the stock market makes it less susceptible to global factors and more dependent on local dynamics.”
Mr. Mirza Salman Ispahani, Former President of CSE also spoke on the occasion.

Advocate Shaheen Aftabur Reza Chowdhury, DSE Member Barrister Moshfeque Rizvi, Managing Director Times Securities Ltd. CSE Directors: Vice President Mr. A.Q.I. Chowdhury OBE, Mr. Bijon Chakroborty, Mr. Tareq Kamal and many distinguished personalities in Chittagong were present in the occasion.

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AKM Shahroze Alam
Deputy Manager, Corporate Development